P60 deadline fast approaching

Employers are reminded that time is ticking away to the date when they need to issue employees with a P60 for the 2015-16 tax year.

The last date for providing P60s is 31 May, but as this date falls on a Tuesday, directly after Spring Bank Holiday Monday, it is wise to plan ahead. The form must also go to everyone who was working for an employer on 5 April 2016, so anyone who has left the business after that date still needs to receive one.

Employers can provide the form – which summarises total earnings and tax deductions for the year and confirms the employee’s tax code – to their employees electronically instead of the traditional paper version.

They can also provide electronic P60s but should agree with employees that they are happy to receive the information in this way. Electronic P60s must be sent to an email address agreed with the employee or provide a secure place where they can view and print it.

Moore Thompson’s fast, efficient payroll bureau provides a cost-effective service to businesses of all sizes, which includes dealing with P60s, payments and returns required by HM Revenue & Customs, giving employers peace of mind that these will be made correctly and on time.

For more information on how we can help you, please contact us.